The company’s gross profit more than doubled to $3.1 million for the same period, up over $1.4 million in 1HFY2023. Gross profit margin also improved to 25.2% in 1HFY2024, up from 15.5% in the corresponding period last year.
Hiap Seng Engineering has posted earnings of $875,000 for its 1HFY2024 ended Sept 30, reversing its loss of $606,000 recorded for the same period last year.
Revenue was up 34% y-o-y to $12.1 million in the half-year period, with the cost of services rendered also increasing 19% y-o-y to $9.1 million in 1HFY2024.
